Tyler Company budgets the following unit sales for the next four months: April, 3,700 units; May, 4,800 units; June, 6,700 units; and July, 2,400 units. The company's policy is to maintain finished goods inventory equal to 40% of the next month's unit sales. At the end of March, the company had 1,480 finished units in inventory. Prepare a production budget for each of the months of April, May, and June. Next period budgeted sales units ces Desired ending inventory units Total required units Units to produce TYLER COMPANY Production Budget April May June 3,700 4,800 6,700 % % % Ramos Company provides the following budgeted production for the next four months. Units to produce April May June July 620 750 720 720 Each finished unit requires 5 pounds of direct materials. The company wants to end each month with direct materials inventory equal to 30% of next month's production needs. Beginning direct materials inventory for April was 930 pounds. Direct materials cost $2 per pound. Prepare a direct materials budget for April, May, and June. Units to produce Materials needed for production (pounds) Total materials required (pounds) Materials to purchase (pounds) Materials cost per pound Cost of direct materials purchases RAMOS COMPANY Direct Materials Budget April May June 620 750 720 units 0 + Ramos Company provides the following (partial) production budget for the next three months. Each finished unit requires 0.6 hour of direct labor at the rate of $12 per hour. The company budgets variable overhead at the rate of $16 per direct labor hour and budgets fixed overhead of $9,000 per month. Production Budget Units to produce April May June 540 670 640 1. Prepare a direct labor budget for April, May, and June. 2. Prepare a factory overhead budget for April, May, and June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 ces Prepare a direct labor budget for April, May, and June. (Enter your direct labor hours (hours) per unit in two decimal places.) Units to produce Direct labor hours needed Cost of direct labor RAMOS COMPANY Direct Labor Budget April May June 540 670 640 units Required 1 Required 2 > Ramos Company provides the following (partial) production budget for the next three months. Each finished unit requires 0.6 hour of direct labor at the rate of $12 per hour. The company budgets variable overhead at the rate of $16 per direct labor hour and budgets fixed overhead of $9,000 per month. Production Budget April May Units to produce June 540 670 640 1. Prepare a direct labor budget for April, May, and June. 2. Prepare a factory overhead budget for April, May, and June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a factory overhead budget for April, May, and June. RAMOS COMPANY Factory Overhead Budget Direct labor hours needed April May June Budgeted total factory overhead i Render CPA is preparing direct labor budgets for the current year. The partners budget billable hours for the year as follows. Data entry 1,180 hours Auditing Tax Consulting 2,400 hours 2,050 hours 405 hours The company budgets $9 per hour to data-entry clerks, $42 per hour to audit personnel, $52 per hour to tax personnel, and $52 per hour to consulting personnel. Prepare a direct labor budget for this service company for the year. Data-entry Auditing Tax RENDER CPA Direct Labor Budget For The Year Ending December 31 Consulting Cost of direct labor Direct Labor Hours Direct Labor Cost per hour Direct Labor Cost X-Tel budgets sales of $60,000 for April, $120,000 for May, and $85,000 for June. Sales commissions are 10% of sales dollars and the company pays a sales manager a salary of $6,000 per month. Sales commissions and salaries are paid in the month incurred. Prepare a selling expense budget for April, May, and June. X-TEL Budgeted sales Sales commissions. Selling Expense Budget April May June ces Use the following information to prepare the July cash budget for Acco Company. Ignore the "Loan activity" section of the budget a. Beginning cash balance on July 1: $68,000. b. Budgeted cash receipts from sales: 40% is collected in the month of sale, 50% in the next month, and 10% in the second month after sale. Sales amounts are May (actual), $1,750,000; June (actual), $1,270,000; and July (budgeted), $1,420,000. c. Budgeted cash payments on merchandise purchases: 90% in the month of purchase and 10% in the month following purchase. Purchase amounts are June (actual), $430,000; and July (budgeted), $600,000. d. Budgeted cash payments for salaries in July: $240,000. e. Budgeted cash payments for sales commissions for July: $210,000. f. Budgeted cash payment for income taxes in July: $100,000. 9. Budgeted cash payment for loan interest in July: $8,500. Complete this question by entering your answers in the tabs below. Calculation Cash Budget Calculate the budgeted cash receipts and cash payments. Calculation of Cash Receipts from Sales Collected in- July 31 June July Accounts Receivable Total Sales May Credit sales from May $ 1,750,000 June 1,270,000 July 1,420,000 Totals $ 4,440,000 Calculate the budgeted cash receipts and cash payments. Calculation of Cash Receipts from Sales Collected in- July 31 Total Sales May June July Accounts Receivable Credit sales from: May $ 1,750,000 June 1,270,000 July 1,420,000 Totals $ 4,440,000 Calculation of Cash Payments for Merchandise Total Purchases June Purchases from: June $ 430,000 July 600,000 Totals $ 1,030,000 -Paid in- July Calculation Cash Budget > July 31 Accounts payable Complete this question by entering your answers in the tabs below. Calculation Cash Budget Prepare the July cash budget for Acco Company. ACCO COMPANY Total cash available Less: Cash payments for: Total cash payments Cash Budget July < Calculation Cash Budget Budgeted Sales Cash payments for merchandise purchases July $63,000 42,400 August $ 81,000 32,600 September $ 49,000 33,400 Sales are 20% cash and 80% on credit. Sales in June were $57,250. All credit sales are collected in the month following the sale. The June 30 balance sheet includes balances of $13,300 in cash and $6,000 in loans payable. A minimum cash balance of $10,000 is required. Loans are obtained at the end of any month when the preliminary cash balance is below $10,000. Interest is 1% per month based on the beginning-of-the-month loan balance and is paid at each month-end. If a preliminary cash balance above $10,000 at month-end exists, loans are repaid from the excess. Expenses are paid in the month incurred and consist of sales commissions (10% of sales), office salaries ($5,000 per month), and rent ($7,500 per month). (1) Prepare a schedule of cash receipts from sales for July, August, and September. (2) Prepare a cash budget for July, August, and September. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a schedule of cash receipts from sales for July, August, and September. KELSEY Schedule of Cash Receipts from Sales Sales Cash receipts from Cash sales Collections of prior period sales Total cash receipts July August September $ 63,000 $ 81,000 $ 49,000 Prepare a cash budget for July, August, and September. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round your final answers to the nearest whole dollar.) KELSEY Cash Budget July August September Beginning cash balance Total cash available Cash payments for Total cash payments Preliminary cash balance Ending cash balance Loan balance July August September Loan balance-Beginning of month Additional loan (loan repayment) Loan balance- End of month $ 6,000 Lexi Company budgets unit sales of 1,910,000 in April, 1,230,000 in May, 230,000 in June, and 1,550,000 in July. Beginning inventory on April 1 is 764,000 units, and the company wants to have 40% of next month's unit sales in inventory at the end of each month. The merchandise cost per unit is $0.50. Prepare a merchandise purchases budget for the months of April, May, and June. LEXI COMPANY Merchandise Purchases Budget April May June Next period budgeted sales units Ratio of inventory to future sales Total required units Units to purchase Cost per unit Cost of merchandise purchases